Live from Goldman’s Communacopia, Regulatory Headwinds, AI Market “Skyrocketing” 9/6/23

Squawk on the Street

CNBC

Investing, Business, News

4.1 • 567 Ratings

🗓️ 6 September 2023

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

Carl Quintanilla and Jim Cramer began the show from the NYSE while David Faber joined the crew live from Goldman’s tech & media conference in San Francisco, California. At the conference, AMD CEO Lisa Su spoke on a panel saying the demand for AI semiconductors remained strong, adding that the market is “skyrocketing.” The anchors then turned to the broader markets with the major indices headed towards another day of losses. How should investors play this volatile market environment? Also in focus: The WSJ reported that the FTC could file an antitrust suit against Amazon at the end of the month, after Amazon officials did not offer concessions to the FTC to pursue a settlement over antitrust claims. Squawk on the Street Disclaimer

Transcript

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0:00.0	Market moving insight and analysis.
0:02.1	Join Jim Kramer, David Faber and me, Carl Cantonia on the opening bell hour of CNBC Squawk on the Street.
0:08.5	Good Wednesday morning. Welcome to Squawk on the Street. I'm Carl Kaintene with Jim Kramer at Post 9 of the New York Stock Exchange.
0:13.5	David Fabers out west live from Goldman's commutocopia conference in San Francisco, a lot from David later on this morning and just a few minutes.
0:21.5	Meantime futures add to the selloff yesterday on the Russell, at least, on these concerns
0:25.3	of slowing growth, higher rates, higher oil, getting a slight reprieve on those fronts today.
0:30.1	Ten years still four and a quarter Brent back below 90.
0:32.9	Our roadmap begins with the Fed, expectations after a slew of data.
0:36.8	Boston's Fed president, the latest to call
0:38.5	for patients while warning that further hikes may be necessary. More regulatory headwinds picking up
0:44.4	for big tech with the FTC set to sue Amazon, DOJ versus Google, and the EU cracking down on these
0:50.3	so-called gatekeepers. And then AMD's Lisa Sue says the AI market is skyrocketing,
0:56.1	who is set to benefit the most? Speaking of which, David, sounds like that's a heck of a way to
1:02.0	kick off the conference. Yeah, Lisa Sue will get to her comments from yesterday. Of course,
1:07.5	we've got a lot of speakers here today. And we're also going to be able to sit down with John Stanky, of course, the man who runs AT&T, talk about the environment for wireless right now.
1:16.6	Bob Backish from Paramount, plenty of things to discuss there, including the writers and actors strike,
1:22.2	not to mention that dispute between Disney and Charter. I'm sure Bob will have some thoughts about that. Mike Sievert later today from T-Mobile. And then tomorrow, David Solomon, of course, it is a Goldman conference, and he will be my guest as well, following a spate of somewhat negative stories about Mr. Solomon a couple of weeks back, as you guys know. Also be monitoring what's going on at the conference, Carl. Brian Roberts, of course,
1:44.5	the man who runs Comcast will be one of the first presenters here this morning at 730,
1:48.9	certainly going to want to see what he has to say as well about any number of different issues
1:54.4	facing that company and the broader landscape. Wow. She's David. I mean, we should all be out there.
2:02.2	What are we doing here?
2:03.4	I mean, doing our fantasy drafts.
	...

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